Sunway REIT is Putra Place owner, says High Court

KUALA LUMPUR: The High Court of Malaysia has dismissed the summons-in-chambers instituted by Metroplex Holdings Sdn Bhd dated Apr 29, applying for injunctive relieve against OSK Trustees Bhd as trustee for Sunway Real Estate Investment Trust (Sunway REIT) to prevent them as exercising their rights as rightful owners of Putra Place in Kuala Lumpur.

The High Court last Friday, May 13, had dismissed the application on the grounds that the lawful registered owner is the Trustee and that they are entitled to issue notices to the occupiers of Putra Place to indicate their ownership and exercise their lawful right.

The Trustee had successfully acquired Putra Place in a public auction on Mar 30 on behalf of Sunway REIT.

The purchase price of RM513.945 million had been fully paid, and the title registered in the name of OSK Trustees as trustee for SunREIT since Apr 19.

The property comprises The Mall shopping complex, the Legend Hotel and an office tower.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.